Peregrine Capital Management LLC Sells 35,935 Shares of Apple Hospitality REIT, Inc. $APLE

Peregrine Capital Management LLC lessened its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 8.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 370,650 shares of the real estate investment trust’s stock after selling 35,935 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.16% of Apple Hospitality REIT worth $4,266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. NewEdge Advisors LLC grew its stake in Apple Hospitality REIT by 295.9% during the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 1,814 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Apple Hospitality REIT by 1,375.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,640 shares in the last quarter. Danske Bank A S bought a new position in shares of Apple Hospitality REIT during the 3rd quarter valued at about $36,000. Godfrey Financial Associates Inc. bought a new position in shares of Apple Hospitality REIT during the 4th quarter valued at about $43,000. Finally, Inspire Investing LLC boosted its holdings in shares of Apple Hospitality REIT by 2,965.1% during the 1st quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 3,736 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on APLE. Weiss Ratings raised Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. began coverage on Apple Hospitality REIT in a research report on Monday, June 1st. They set a “neutral” rating and a $15.00 target price for the company. Cantor Fitzgerald increased their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. BMO Capital Markets raised their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, June 12th. Finally, Wells Fargo & Company boosted their price target on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Apple Hospitality REIT currently has an average rating of “Hold” and an average target price of $14.94.

Apple Hospitality REIT Price Performance

APLE stock opened at $16.62 on Friday. The stock has a market cap of $3.92 billion, a PE ratio of 22.76, a P/E/G ratio of 8.05 and a beta of 0.87. Apple Hospitality REIT, Inc. has a 12 month low of $10.85 and a 12 month high of $17.06. The company has a 50-day moving average price of $15.03 and a 200 day moving average price of $13.15. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. Equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Tuesday, June 30th. Apple Hospitality REIT’s dividend payout ratio is presently 131.51%.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $13.96 per share, with a total value of $69,800.00. Following the purchase, the chairman owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.90% of the company’s stock.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.